El Salvador is giving every single citizen $30 in Bitcoin for free

El Salvador President Nayib Bukele announces Bitcoin airdrop: every citizen will get $30 through mobile e-wallet service Chivo.

1 minute & 39 seconds read time

El Salvador is already the first country in the world to adopt Bitcoin as legal tender, but now the country will be giving every single citizen $30 in Bitcoin which is only going to do wonders for the country... and cryptocurrency in general.

Salvadorans will need to simply sign up for the Chivo e-wallet -- with one big cavaet: you'll need facial recognition to sign up for that e-wallet in order to get your $30 in free Bitcoin. El Salvador will need to buy over $100 million in Bitcoin required to give each adult in El Salvador (there's 6.5 million Salvadorans) their $30 worth of BTC.

President Nayib Bukele explained: "The wallet app will even work anywhere with a cell connection, and you won't have to have a cell plan for the app".

Binance CEO Changpeng Zhao tweeted about the news, applauding the fact that El Salvador is adding 6 million people to the cryptocurrency ecosystem in one shot.

El Salvador will begin accepting cryptocurrencies, including Bitcoin, as legal tender on September 7 -- just over two months from now. Between now and then, we'll have the free $30 in Bitcoin through an aidrop to Salvadorans -- with the El Salvador government working with major cell phone operators to offer the national Bitcoin wallet optionj.

If you consider over 70% of Salvadorans don't even have a bank account or debit card, but many of them have a smartphone... this is a major shift for El Salvador, and the world. Airdropping free Bitcoin to their citizens, is going to be very appealing to millions of people.

El Salvador is giving every single citizen $30 in Bitcoin for free 18

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.

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